AOL Inc. (AOL) is likely to shutter its primary video game site Joystiq, part of an extensive house-cleaning of its underperforming content properties that is taking place over the next weeks, Re/Code reported, citing numerous sources.
Joystiq was founded in 2004 as an extension of Engadget and as...
Facing opposition from most Democrats, a bill authorizing construction of the controversial Keystone XL oil pipeline failed to clear a key procedural hurdle in the Senate on Monday. The Senate voted 53 to 39 in favor of a measure limiting debate on the legislation but fell short of the 60 votes needed.
British oil giant BP plc (BP.L, BP) will freeze employees pay in 2015, in order to control costs amid plunging crude oil prices, according to media reports.
Reports say Chief Executive Bob Dudley announced the freeze in an internal memo to employees on January 26. Dudley said that the company requires...
Consumer confidence in the U.S. has seen a substantial improvement in the month of January, according to a report released by the Conference Board on Tuesday, with the consumer confidence index jumping to its highest level in over seven years.
After reporting an unexpected drop in sales of new single-family houses in the previous month, the Commerce Department released a report on Tuesday showing that U.S. new home sales rebounded by more than anticipated in the month of December.
Biopharmaceutical firm Bristol-Myers Squibb Co. reported Tuesday a profit for the fourth quarter that plummeted from last year, hurt by higher restructuring and pension-related charges as well as revenue decline. However, adjusted earnings per share and quarterly revenues topped analysts' expectations. The company also provided earnings and revenue guidance for the fiscal 2015, below Street view.
After moving sharply lower at the open, stocks continue to see substantial weakness in early trading on Tuesday. The major averages are stuck firmly in negative territory, more than offsetting the modest gains posted in the previous session.
Mining and agricultural equipment maker Caterpillar Inc. on Tuesday reported a 25 percent decline in profit for the fourth quarter from last year, amid weak demand for its mining equipment. The company also forecast lower earnings and sales for fiscal 2015, citing the impact of the fall in oil prices as well as lower prices for mined commodities.
3M Co. reported Tuesday a profit for the fourth quarter that grew from last year, reflecting improved operating margins and revenue growth amid increases across business groups and most regions. Earnings per share topped analysts' expectations by a penny, while quarterly revenues missed their estimates. The company also reaffirmed its earnings and sales growth forecast for the full-year 2015.
Annual home price growth in major metropolitan areas continued to slow in the month of November, according to a report released by Standard & Poor's on Tuesday.
Pharmaceutical giant Pfizer, Inc. on Tuesday reported a 52 percent decline in profit for the fourth quarter from last year on lower revenues. However, adjusted earnings per share beat analysts' estimates. Looking ahead, the company forecast financial results for fiscal 2015 below analysts' estimates.
New orders for U.S. manufactured durable goods unexpectedly showed a substantial decrease in the month of December, according to a report released by the Commerce Department on Tuesday, with the drop partly due to a sharp decline in orders for transportation equipment.
Consumer goods giant Procter & Gamble Co. reported Tuesday a profit for the second quarter that declined 31 percent from last year, hurt by foreign exchange impact, charges and a sales decline. Core earnings per share and quarterly sales missed analysts' expectations. The company also reaffirmed currency-neutral core earnings per share and organic sales growth guidance for the full-year 2015.
Stocks are likely to come under pressure in early trading on Tuesday, offsetting the modest strength seen in the previous session. The major index futures are currently pointing to a sharply lower open for the markets, with the Dow futures down by 282 points.
Chemical giant EI DuPont De Nemours & Co. or DuPont, reported Tuesday a profit for the fourth quarter that soared from last year, despite a sales decline, reflecting cost reduction initiatives across operations. Operating earnings per share matched analysts' expectations, while quarterly revenues came shy of their estimates. The company also provided a weak outlook for the full-year 2015.